Emerging Europe Moves Ahead but Slower

Robust recovery in most of the region, except in Russia and other CIS economies Growth still lower than before crisis, catch-up with advanced Europe to take longer Countries need to address structural bottlenecks Most of the Central, Eastern, and Southeastern European economies (CESEE) continue to record robust growth, while Russia and other countries in the Commonwealth of Independent States (CIS) remain in recession, says the IMF in its latest Regional Economic Issues report for the region. Yet, average growth rates across the region are well below the levels before the crisis, thus it could take longer to catch up with … Continue reading Emerging Europe Moves Ahead but Slower

Apertura del primo Hub della ABO Offshore Bank

Milano, 03 luglio 2013 -Finalmente, dopo molti mesi di preparazione e lunghe, trattative per la distribuzione delle quote a soci imprenditori, apre il nuovo e tecnologico Hub della ABO Offshore Bank, banca d’affari offshore con sede nell’isola del Jersey. ABO Offshore Bank avrà anche una partecipazione del 33% di soci tunisini, e quote di minoranza della Libia, dell’Algeria e del Qatar, invece la maggioranza delle quote rimarrà di proprietà di una cordata di imprenditori italiani che operano nelle città di Milano, Firenze, Empoli. ABO Offshore Bank Lavorerà in valuta americana ed euro, cosa che le permetterà anche di partecipare alle privatizzazioni algerine … Continue reading Apertura del primo Hub della ABO Offshore Bank

San Marino—2013 Article IV Consultation Concluding Statement of the Mission

The economic recession is likely to persist into 2013, with growth hampered by weak external demand and the continued effects of San Marino’s inclusion in Italy’s tax black list. While most banks appear to have reasonably strong capital and liquidity, the State should stand ready to further recapitalize Cassa di Risparmio (CRSM) as needed, for CRSM is a key element of the Sammarinese economy. It will be important for the government to rebuild strong fiscal reserves, and this will require setting more ambitious targets for the planned tax reform and expenditure review. Finally, San Marino has, in recent years, unwound … Continue reading San Marino—2013 Article IV Consultation Concluding Statement of the Mission

Transcript of Managing Director’s New Year Press Briefing

Washington, D.C., January 17, 2013 Christine Lagarde, IMF Managing Director Gerry Rice, IMF External Relations Director MR. RICE: Good morning everyone, and welcome to this first press conference of the new year with the IMF, delighted to see you here. This morning we will be on the record. I would ask you to keep your questions fairly short, to identify yourselves by name, and affiliation. With that, it is my pleasure to introduce this morning the Managing Director of the IMF, Christine Lagarde. I will ask the Managing Director to make a few opening remarks, and then we will turn … Continue reading Transcript of Managing Director’s New Year Press Briefing

Interview on Greece

IMF Support for Greece Moves Ahead with €3.24 Billion Disbursement IMF Survey online    January 18, 2013 The Greek program ran considerably off track during 2012, but is now back on course Overall, Greece is making considerable progress with its adjustment program Sustained and strong implementation is now needed to lay the foundation for a turnaround The implementation of policies agreed under Greece’s IMF-supported program ran considerably off track during 2012. An extended election period effectively put on hold macro-structural reforms, privatization, and fiscal reforms. The delays had important repercussions on the economy, which was already expected to be weak. As … Continue reading Interview on Greece

IMF Executive Board Concludes 2012 Article IV Consultation with Comoros

Public Information Notice (PIN) No. 13/03 January 15, 2013 Public Information Notices (PINs) form part of the IMF’s efforts to promote transparency of the IMF’s views and analysis of economic developments and policies. With the consent of the country (or countries) concerned, PINs are issued after Executive Board discussions of Article IV consultations with member countries, of its surveillance of developments at the regional level, of post-program monitoring, and of ex post assessments of member countries with longer-term program engagements. PINs are also issued after Executive Board discussions of general policy matters, unless otherwise decided by the Executive Board in a … Continue reading IMF Executive Board Concludes 2012 Article IV Consultation with Comoros

Important Communication

The Extraordinary General Meeting of ‘ABO, on January 14, 2013, resolved to approve the deposit of € 84,000,000.00 for the’ increase of the share capital and reserves, thanks to the doctor Marcello Orsini d’Aragona, who was appointed today new president of the International ABO. By which the ABO intends to increase its capacity in order to ensure equity, as of now, the full internal financial stability. The higher capital levels will also increase the role of the ABO and the Group in the competitive landscape, made ​​even more difficult by the continuing economic crisis, attracting business initiatives and partnerships required … Continue reading Important Communication

Bollettino Economico n. 70

16-10-2012 Le tensioni finanziarie si sono attenuate Gli annunci delle nuove operazioni della BCE e delle loro modalitá di attuazione hanno allentato le tensioni sui titoli del debito sovrano dell’area dell’euro. Il miglioramento dei mercati finanziari si è trasmesso all’Italia e si è riflesso sulle condizioni del credito, il cui costo rimane tuttavia superiore alla media dell’area. In Italia la contrazione del PIL è proseguita nel terzo trimestre; i sondaggi più recenti segnalano un’attenuazione del pessimismo In Italia l’attività economica ha continuato a ridursi anche nei mesi estivi, sebbene con un’intensità minore rispetto alla prima metà dell’anno. Dalle inchieste condotte … Continue reading Bollettino Economico n. 70

Hong Kong, il vincitore della Classifica di Competitività Mondiale 2012

L’International Institute for Management Development (IMD) ha annunciato il risultato della sua Classifica di Competitività Mondiale 2012 (World Competitiveness Rankings). La classifica misura il livello di capacità di 59 paesi in tutto il mondo, di gestire le proprie risorse economiche ed umane per aumentare la propria prosperità. Quest’anno, Hong Kong è valutato da IMD al primo posto, gli Stati Uniti al secondo e la Svizzera al terzo. Il Segretario delle Finanze di Hong Kong ha dichiarato: “Accogliamo con favore l’alta considerazione di Hong Kong da parte dell’IMD, come l’economia più competitiva al mondo per il secondo anno consecutivo”. Hong Kong … Continue reading Hong Kong, il vincitore della Classifica di Competitività Mondiale 2012

The A.B.O.

   is an association that works to protect the interests of Offshore Banks  and Agencies of Foreign Banks and other associated organizations and entrepreneurial companies, foreign members. Deal with matters of interest in the sector by subjecting them to the competent authorities (ECB, etc..) And, through the establishment of special committees for specific disciplines, promotes analysis and study of issues related to international finance. Continue reading The A.B.O.